Some facts about: the different functions of probate court and the important benefits of probate; the functions and meaning of the planning, the several parts which are included in this process.

Estate planning is a lifelong process in which you evaluate your situation.The process includes several parts: planning for your retirement, for the possibility of disability, and for death. The process requires that you consider a wide range of legal, financial, emotional, and logistical issues.Click here to learn more information

Probate: What Is It?

The probate court serves several functions. The most common is administration of the estates of persons who die, called a probate proceeding. However, the probate court also handles guardianships and conservatorships.
In a probate proceeding, the court oversees the process of identifying the deceased person's property, paying any debts, identifying the proper heirs, and distributing the property to them. Most of the actual work is done by an executor with the assistance of an attorney and often an accountant. Not all of a deceased person's property is subject to the probate process. Life insurance, retirement accounts, and "joint tenancy" property all pass directly to the appropriate beneficiary automatically. Click here to learn more information

Benefits of Probate

Probate does provide some important benefits. Most important, it provides some court supervision to make sure a deceased person's property is accounted for and distributed as intended. Once the probate "creditor's claim period" expires it is very difficult for creditors or others to claim any interest in the estate. For a professional probate may bar later lawsuits that would otherwise be difficult to defend without the help of the deceased person.
It's important to periodically review your records.

Will Your Family Know The Following?

-Location of vital documents
-Location of employment records
-List of real estate owned
-Location of deeds, loan documents
-Payment information for mortgages, taxes, insurance
-Name(s) of person(s) most knowledgeable about property
-List of valuable personal property.
-Information regarding employee disability and survivor benefits
-Information regarding Pension/Retirement Benefits
-List of bank and investment/security accounts
-Children's savings accounts
-Investment accounts
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The planning process includes several parts.They are linked with differnt spheres of life. Other parts of this process are not discussed here. 		Peter L. Balogh - offers to you the professional advices and useful information touching upon the problems of planning and of the probate court

Law Offices of Peter L. Balogh
15 West Manor Drive
Pacifica, CA 94044
Telephone: (650) 355-8834
Fax: (650) 355-7342
Email Addresses:
Pbalogh@PacificaLawyer.com Appointments@PacificaLawyer.com GeneralInfo@PacificaLawyer.com

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